Diamond Aircraft Goes To China

We’ve written about the growing private jet market in China before and now we’ve got more specifics on the burgeoning industry. Diamond Aircraft Industries, an Austrian-based plane manufacturer, is one of the first to capitalize on the growing market establishing a joint venture with the Binzhou Dagao General Aviation Co Ltd in East China’s Shandong Province. The first four-seat DA40 plane is expected to be ready in October with a list price of around $200,000. As the list of millionaires in China grows, Diamond is expecting that the private jet market will soar. Others looking to cash in on the private jet market in China include most of the world’s biggest names in the industry such as Bombardier, Embraer SA and Gulfstream.